Hardman & Co Research on ICG Enterprise Trust plc: Unique approach to capital allocation

Hardman & Co Research on ICG Enterprise Trust plc: Unique approach to capital allocation   In this note we examine how shareholders benefit from ICGT’s unique approach to capital allocation (first discussed on page 11 of our 16 May 2024 note FY’24: portfolio companies performing strongly). We have in previous notes highlighted how ICGT’s defensive growth strategy in practice differentiates itself from peers (see Appendix 1) and the capital allocation policy is also a differentiator. ICGT’s approach rewards investors with immediate income through a progressive dividend, long-term compounding capital growth through new PE investments, ongoing NAV accretion through a long-term buyback programme and further NAV accretion with an opportunistic buyback programme when the discount is high.   Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/icgt-unique-approach-to-capital-allocation/ If you are interested in meeting the company, you can register your interest by clicking on the above link.

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